Jefferies Group LLC reiterated their buy rating on shares of International Paper Company (NYSE:IP) in a report published on Friday morning. They currently have a $66.00 price objective on the basic materials company’s stock.

Several other research analysts have also commented on IP. Citigroup Inc. restated a neutral rating on shares of International Paper in a report on Saturday, April 22nd. Deutsche Bank AG raised their price target on shares of International Paper from $50.00 to $54.00 and gave the company a hold rating in a report on Tuesday, April 25th. Barclays PLC raised their price target on shares of International Paper from $45.00 to $48.00 and gave the company an underweight rating in a report on Monday, May 1st. BidaskClub upgraded shares of International Paper from a hold rating to a buy rating in a report on Friday, June 16th. Finally, KeyCorp restated a hold rating on shares of International Paper in a report on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. International Paper has a consensus rating of Hold and an average target price of $58.14.

Shares of International Paper (NYSE:IP) opened at 54.29 on Friday. The stock has a 50 day moving average of $55.67 and a 200-day moving average of $53.56. International Paper has a 1-year low of $43.55 and a 1-year high of $58.95. The stock has a market capitalization of $22.42 billion, a P/E ratio of 27.57 and a beta of 1.46.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. International Paper had a net margin of 3.73% and a return on equity of 27.09%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm posted $0.92 earnings per share. International Paper’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts predict that International Paper will post $3.47 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 11th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.41%. International Paper’s dividend payout ratio is currently 93.91%.

In other news, insider Gregory T. Wanta sold 1,044 shares of International Paper stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.22, for a total transaction of $57,649.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. FNY Partners Fund LP raised its stake in shares of International Paper by 166.7% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,250 shares during the period. Quadrant Capital Group LLC raised its stake in shares of International Paper by 2.4% in the second quarter. Quadrant Capital Group LLC now owns 2,043 shares of the basic materials company’s stock worth $107,000 after buying an additional 47 shares during the period. Ffcm LLC raised its stake in shares of International Paper by 148.0% in the second quarter. Ffcm LLC now owns 2,081 shares of the basic materials company’s stock worth $119,000 after buying an additional 1,242 shares during the period. Asset Advisors Corp raised its stake in shares of International Paper by 3.6% in the second quarter. Asset Advisors Corp now owns 2,398 shares of the basic materials company’s stock worth $136,000 after buying an additional 84 shares during the period. Finally, Krilogy Financial LLC raised its stake in shares of International Paper by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,476 shares of the basic materials company’s stock worth $140,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 83.68% of the company’s stock.

About International Paper

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Analyst Recommendations for International Paper (NYSE:IP)

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